PANews reported on October 29th that, according to GlobeNewswire , TeraWulf Inc. (NASDAQ: WULF ) announced its plan to privately issue $ 500 million in convertible senior unsecured bonds under Rule 144A , maturing on May 1 , 2032 , with no interest and no accrued principal. The company is also offering initial purchasers an option to issue up to $ 75 million more within 13 days. The proceeds will be used for the construction of the Abernathy, Texas data center campus and for general corporate purposes. The convertible bonds are convertible only for a specific period prior to the fulfillment of certain conditions, with conversion settlement primarily in cash; any excess may be settled in cash or common stock.